In Capshaw V

question 2

Multiple Choice

In Capshaw v.Hickman,the case in the text,the court reversed the trial court's judgment because:

• A)the vehicle remained in Hickman's driveway,therefore,he had the risk of loss.
• B)the pleadings provided sufficient evidence for the court to find in favor of the defendants as a matter of law.
• C)the pleadings did not reveal the underlying reasons for leaving the car in the driveway until Capshaw's check cleared.
• D)once the check was tendered,Hickman no longer had the risk of loss.

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Definitions:

Natural Monopolies

Situations in which a single firm can supply a good or service to an entire market more efficiently than multiple firms could, often due to high infrastructure costs making competition impractical.

Allocative Efficiency

An economic state where resources are allocated in a way that maximizes the net benefit to society, considering both production and desires of consumers.

Simultaneous Consumption

A consumption pattern in which a product or service is consumed by multiple users at the same time without reducing its availability to others.